Crown (NYSE:CCK) Given New $101.00 Price Target at Bank of America

Crown (NYSE:CCK) had its price target reduced by research analysts at Bank of America from $107.00 to $101.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the industrial products company’s stock. Bank of America‘s target price would indicate a potential upside of 24.69% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the stock. Truist Financial increased their target price on shares of Crown from $103.00 to $104.00 and gave the company a “hold” rating in a research report on Monday. Loop Capital increased their price target on Crown from $120.00 to $129.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. StockNews.com raised Crown from a “hold” rating to a “buy” rating in a research note on Thursday. Wells Fargo & Company dropped their price objective on shares of Crown from $105.00 to $88.00 and set an “equal weight” rating for the company in a report on Monday. Finally, Robert W. Baird boosted their target price on Crown from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Monday, October 21st. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $105.31.

Crown Price Performance

NYSE:CCK traded up $0.46 on Monday, reaching $81.00. 268,493 shares of the company’s stock traded hands, compared to its average volume of 615,964. The stock has a 50-day simple moving average of $89.13 and a 200-day simple moving average of $87.67. The firm has a market cap of $9.69 billion, a PE ratio of 100.00, a P/E/G ratio of 1.95 and a beta of 0.86. Crown has a 12 month low of $69.61 and a 12 month high of $98.46. The company has a quick ratio of 0.84, a current ratio of 1.21 and a debt-to-equity ratio of 2.19.

Crown (NYSE:CCK) last issued its quarterly earnings data on Thursday, October 17th. The industrial products company reported $1.99 EPS for the quarter, topping analysts’ consensus estimates of $1.81 by $0.18. Crown had a net margin of 0.83% and a return on equity of 24.57%. The business had revenue of $3.07 billion during the quarter, compared to analysts’ expectations of $3.07 billion. Equities research analysts forecast that Crown will post 6.34 earnings per share for the current year.

Insider Activity at Crown

In related news, COO Gerard H. Gifford sold 10,000 shares of Crown stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $95.89, for a total transaction of $958,900.00. Following the transaction, the chief operating officer now owns 114,402 shares of the company’s stock, valued at $10,970,007.78. This trade represents a 8.04 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Timothy J. Donahue sold 7,500 shares of Crown stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $96.73, for a total transaction of $725,475.00. Following the transaction, the chief executive officer now directly owns 563,678 shares in the company, valued at $54,524,572.94. The trade was a 1.31 % decrease in their position. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of CCK. CWA Asset Management Group LLC bought a new stake in shares of Crown in the fourth quarter worth $1,051,000. Nordea Investment Management AB lifted its position in shares of Crown by 19.3% in the fourth quarter. Nordea Investment Management AB now owns 1,095,382 shares of the industrial products company’s stock worth $90,511,000 after purchasing an additional 176,959 shares in the last quarter. Everence Capital Management Inc. bought a new stake in shares of Crown in the fourth quarter worth $348,000. GAMMA Investing LLC lifted its position in shares of Crown by 84.2% in the fourth quarter. GAMMA Investing LLC now owns 571 shares of the industrial products company’s stock worth $47,000 after purchasing an additional 261 shares in the last quarter. Finally, Franklin Resources Inc. lifted its position in shares of Crown by 3.6% in the third quarter. Franklin Resources Inc. now owns 941,033 shares of the industrial products company’s stock worth $87,949,000 after purchasing an additional 32,909 shares in the last quarter. Institutional investors own 90.93% of the company’s stock.

Crown Company Profile

Crown Holdings, Inc, together with its subsidiaries, engages in the packaging business in the United States and internationally. It operates through Americas Beverage, European Beverage, Asia Pacific, and Transit Packaging segments. The company manufactures and sells recyclable aluminum beverage cans and ends, glass bottles, steel crowns, aluminum caps, non-beverage cans, and aerosol cans and closures.